Bringing you live news and features since 2006 

upwards trending arrow

Focus on investment solutions drives Old Mutual Wealth’s net sales up 50 per cent

RELATED TOPICS​

Old Mutual Wealth, comprising Skandia, Skandia International and Old Mutual Global Investors (OMGI), saw net client cash flow (NCCF) increase by 50 per cent in the first half of the year to GBP1.2 billion from GBP0.8 billion in 2013.

IFRS adjusted operating profit (AOP), pre-tax, was GBP120 million for the first half of 2014, up by 11 per cent compared to the prior year (H1 2013: GBP108 million).
 
The strong NCCF during the period saw funds under management (FUM) increase to GBP80.3 billion (31 Dec 2013: GBP78.5 billion).
 
Paul Feeney, chief executive of Old Mutual Wealth, says: “Our focus is on building investment solutions that meet different customer needs. We believe that is what people need to help them secure their financial future and these results are a good endorsement of that strategy. The launch of WealthSelect this year is an example of how we can use our platform and asset management expertise to build a service that gives advisers a range of managed portfolio solutions aligned to their clients’ needs. WealthSelect has already taken over GBP200 million in new investment – a clear sign that advisers and their clients value the proposition.
 
“The acquisition of Intrinsic during the period was a significant milestone in our plans to become a leading investment solutions provider. Building the solutions is one thing but we need to make them more accessible to people and have a direct understanding of what they want. Intrinsic enables us to do that and is an important addition to our business.
 
“Preparations are well under way for us to start using the Old Mutual brand in the UK at the end of September and internationally at the beginning of next year. This marks a tipping point in our transition from primarily a platform provider to a broader investment solutions provider.”

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

ETFs
The European ETF market achieved a record 28 per cent growth – reaching over USD1.8 trillion assets under management (AUM)...
Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by